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due to the ongoing clear of the -- fear of the fiscal cliff. the dow is down 54. the nasdaq down 1. s&p down 3. >>> apple has reportedly fired the manager in charge of the flawed mapping software for the iphone. the software was criticized as soon as it was released in september for glaring inaccuracies. apple's ceo was forced to issue users a rare apology. bloomberg said richard williamson was ousted and a new team is working on the problem. >>> a reward is being offered in san francisco to help an ailing man find his stolen dog. 56-year-old robert runkle's 4- year-old yorkshire terrier named lola is trained to recognize physical distress and provide companionship. last week a thief stole the door out of the -- took the dog out of the car. a $3,000 reward is being offered to help find the check. >>> and we're tracking the rain and what the cities are preparing for the rain tomorrow. >>> thank you for trusting ktvu news. we'll see you the next time news breaks. card hassles? introducing chase liquid. the reloadable card that's easy to activate and can be used right away. plus, you can
is this fiscal cliff is holding down a market that's being boosted by what steve said, better economic numbers, not just in the u.s. china's bottom is going up. we've seen better pmi numbers in europe. monetary expansion is pushing asset spriess up. so again, if you believe there's going to be resolve, and it could well go down. i actually think there will be bigger buying opportunities if you go through december 31st with negative rhetoric into the new year. that's when things get really nasty here. i don't learn anything from the sound bites from senator reid or boehner or anybody else. these are just negotiations going on. >> all right. >> unfortunately in public. that's my point. >> that's how it's always done. you are so hopeful, bill. >> larry, steve, i'll see you later. >> it's charming, bill. just charming. all right. we have -- >> that's a code word on her part, by the way. >> 13 minutes before the closing bell. the dow jones industrial average lower by 70 points. >> wall street firms are turning increasingly bullish about next year. we're going to hear from somebody who says these bu
afghanistan $2 billion buy back. >>> the clock ticking down to the fiscal cliff there is some noise in washington that perhaps going over the cliff might be the best sort of tactical solution for both sides. so, how could it benefit democrats and republicans? andy friedman is a principal at the washington update and one of america's top business lawyers and savviest political observers. andy, welcome back. >> nice to see you, tyler. >> thanks for being with us. talk a little bit about entitlements. we have talked about taxes and riff new raising and so forth, but an article in the times today about how difficult it seems to be for democrats to find the yield points on entitlement reform. talk to me about that. >> that's true. you heard the democrats today saying maybe we won't touch social security. that system's okay. we don't need to do anything with it now. maybe we can if i had al little bit with medicare but these are points very difficult -- >> if you take medicare and medicaid off the table, then you got to do it three ways. you got to have entitlement reform, increased reven
down and that fiscal cliff looms larger. we'll talk fiscal cliff defense on the other side of the break after this. you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. make sure the news keeps coming with thinkorswim by td ameritrade. use the news links breaking stories with possible breakout stocks, options with potential opportunity, futures and forex with in-depth analysis. it's an all-you-can-eat buffet for all things trading. thinkorsw
of the china bulls. finally, there's the letdown in the united states. a deal on the fiscal cliff, the foes of compromise. the enemies of compromise were out in full force in the last 48 hours. all vying to be on the "mad money" wall of shame anti-compromise annex. paul krugman in today's "new york times" calling the fiscal cliff a phantom menace, a crisis that doesn't need addressing. krugman is calling for demonizing all those he thinks are scaring people into austerity. no cuts for him. he's no fan of rising above, either. wrote it himself. on the other hand, there's college classmate grover norquist, the anti-tax crusader who came out swinging this weekend reminding republicans who signed the no new tax pledge to not discuss impure thoughts if they talk about taxes on national television. i know pornography when i see it. norquist made it very clear that any republican who signed the pledge, that's pretty much every republican in congress, who now balks, is someone whose career is over. to me, that meant the defectors are far and few between. as a moderate leadership cannot deliver thos
. that fear of fiscal cliff will keep the joes and joannes from spending. >> i think this is other part, i think they had enough with the white house, they had it with this, they have on. optimism. neil: fox news alert in, he was reelected. >> i heard it i'm trying to ignore it but i heard it. people do still to have jobs, i told you last time this is a went on in a year. neil: have you been optimistic, you less so, but where do you come from for next year? >> 2013 retail and restaurant, reality is a lot of full timers are cut to part timers, and part timers are having their hours cut, purchasing power goes down. neil: why are you rolling your eyes. >> they will be create -- creative, a brought franchises and bought fast-food businesses. some drove cabs. neil: this year over last year? >> i am moving up from 4.1, i am getting closer, i am at 4.7 today. >> i am moving from 3.2 to 2.5. neil: oh, my -- >> internet sales up from 15 to 20% increase. >> we'll agree on the internet, but they will go out, and buy household goods, you are right about that, this is going to put us over the top, ther
reid. he said he was disappointed there has been little progress in the fiscal cliff negotiations the dow down 89 points. >>> shares of green mountain coffee though jumping after the bell. the company brewed up better than expected fourth quarter results. investors also cheered the company's new hire. david: fiscal 2013 forecast. >>> the xbox may be the gift of choice for many holiday shoppers this season. microsoft said it sold more than 750,000 videogame consoles during the black friday week. that outpaced nintendo's wii u which sold 400,000 units in the first week on u.s. market. microsoft reports that the windows 8 operating system registered 40 million upgrades since its launch october 26th. that's the latest from fox business network, giving you business network, giving you the power to prosper can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open ll night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on grou
very pegs mystic, i think, maybe about getting off the fiscal cliff but certainly the market impact of the cliff. why are you so worried? >> well, we face much too high a risk if they kick the can down the road again, 60 days, 90 days, six months, actually don't solve anything. if they do that and just leave us with another cliff a few months later, if they leave us with that, business fixed investment is going nowhere. business confidence is going nowhere. >> already falling. business investment is actually falling. >> yes, but if we give them -- if we make the business community think we're facing another three or six monies of this fiscal cliff stuff it will completely evaporate and household markets will evaporate, and the markets will spell that. those odds are higher than we should put up with. >> i don't necessarily disagree but the volatility index, the vix index for stocks and gold are both very low. though are the so-called fear indexes. why do you reckon with all the fiscal risks out there that the fear indexes are in fact so low? >> two reasons. one, the fed is suppressi
? >> well, yes. good afternoon. yeah, without question there's a lot of discussion about the fiscal cliff and the problem for investors is they don't get the opportunity to kick the can down the road like the politicians do. for investors on the backside of the tax mountain there is income cliff. it comes both on capital gains side and dividend side as you've been talking about. ashley: eric, investors are starved for income. what can you do? you can't sell dividend stocks because of higher tax rates around the corner, right? >> by no means you don't want to dump your dividend stocks. for many years investors were lulled into the fact not thinking about too much after tax returns because investments have enjoyed very good and very positive low tax rates but going forward investors will have to be thinking not necessarily about what they make but about what they keee. and so for dividends and investors have been looking into dividends as another source of income, by no means do you want to get rid of those. like we talk time and time again about diversifying assets, investors more and more
like investors have bigger fish to fry. known as the fiscal cliff. the dow is down about 11 points. there's still a lot of worry about how these talks on coming up with a deal on the fiscal cliff, how the talks will go. carol? >> alison kosik live from the new york stock exchange. >>> representative-elect alan grayson has been standing with protesting walmart workers. when he delivered bagged meals on to see walmart on thanksgiving, walmart called the cops. we'll talk that and the ongoing protests next. and one wedding, 2 kids, 43 bottles of olay total effects many birthdays later, still looks amazing. thanks to the trusted performance of olay. do you really think brushing is enough to keep it clean? while brushing misses germs in 75% of your mouth, listerine® cleans virtually your entire mouth. so take your oral health to a whole new level. listerine®... power to your mouth™. of green giant vegetables it's easy to eat like a giant... ♪ and feel like a green giant. ♪ ho ho ho ♪ green giant ho ho ho sfx- "sounds of african drum and flute" look who's back. again? it's embar
for capital gains. companies trying to get a jump on the fiscal cliff. details and the oracle of all my speaking out on tax policy. next, i'll break down why warren buffett is just plain wrong. ♪ gerri: warren buffett is getting a lot of attention this week for his comments on the fiscal cliff . basically, the investing mobil says it rich people, that is people like him, should pay more in taxes. it sounds magnanimous. i believe the case he builds for higher taxes, well, the reasoning as a big hole in it. here is why. the contention that rich people will stop hiring is nonsense. we already know that more than a million americans to employ people and paying there taxes through there individual income-tax. according to the heritage foundation, the amount their taxes would rise would be equivalent to one employee salary. one person there would not hire. we will what is more, rinsed and young says these tax hikes would kill 710,000 jobs. buffett also says that rich people will stop investing. again, nonsense. when you tax something usually get less of it, like cigarette taxes to curb smok
? >> a lot to resolve at that hearing. >>> we're counting down to the fiscal cliff. over a month to go before everyone's taxes go up. both sides set to meet with business leaders this week. the company will take his campaign on the road, too, as more republicans appear willing to bend on their no new taxes pledge. jon karl is in washington. even though the president has been calling congressional leaders, they haven't made enough progress for another face-to-face negotiation. >> reporter: there's no face-to-face meeting even scheduled now between the president and congressional leaders. but i can tell you that high-level talks with staff are intensifying, with time running out. and republicans are expressing a newfound willingness to compromise on that long-standing republican pledge never to raise taxes. >> the pledge was designed -- >> reporter: meet the anti-tax enforcer. the man behind the pledge. grover norquist. >> republicans who vote for a tax increase are rat heads in a coke bottle. they damage the brand for everyone else. >> reporter: ronald reagan was part of the first pledge. and
down the fiscal cliff in exactly five weeks. take a look at the time line, triggering painful spending cuts and tax hikes. several leading republicans signaling that they're willing to break their new tax hike pledge to get a spending deal passed in time. but when the lame duck senate returned yesterday, it sure sounded like politics as usual. >> the senate has spoken. president obama has spoken. he's promised he will not sign any bill that mortgages our future to pay for handouts to the wealthiest 2% of americans. i only hope house republicans have been listening. >> we've been responsible, even as we've remained firm on this point. no tax increases now for promised spending cuts that won't materialize later. >> cnn's political director mark preston is live from washington this morning. good morning to you, mark. so the house gets back in session today. and so far there are no talks scheduled between top republicans and the president. >> that's true, zoraida. we haven't seen the president and congressional leaders actually meet since november 16th when they all went down to the white
today and he was facing the fiscal cliff, what do you think he would do? >> remember what he did in 86? he sat down with tip o'neill. they agreed that they could have very substantial reduction in tax rates across the board but particularly middle and high income tax rates and offset that base broadening. the result of that was taking the top rate down from 50% to 20%. the impact of bad was to have a significant increase in taxable income. people choosing to take more of their compensation in the form of taxable income and cutting back on tir tax expenditures andeductions and exclusions in working order. so i think that is what ronald reagan would do if he were here now. >> leadership will be key to all this. thank you so much for coming on the show today. >> it's wonderfuto be with you. melissa: cheryl: merrie schapiro is stepping down. she helped lead the government and regulatory response to the 2008 financial crisis and took over after the sec failed to detect the bernie madoff ponzi scheme. her last day will be december 14. it was an exit that many saw coming. the one i recently t
on the newshour tonight, we get two opposing views on how to avert the so-called fiscal cliff from representatives tom price and keith ellison. >> brown: then, president obama sat down with mexico's president-elect, enrique pena nieto, this afternoon. one topic for them and for us tonight: the war on drugs, on both sides of the border. >> suarez: as lawmakers talk of reducing the country's debt, paul solman offers a history lesson on centuries of federal borrowing. >> the united states was going into default. we defaulted on many obligations to foreign creditors and to our own soldiers. >> brown: plus, every month, 1,000 young americans are infected with h.i.v., and most of those with the disease don't even know they have it. hari sreenivasan looks at a new report from the c.d.c. that's all ahead on tonight's newshour. major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st c
solve the fiscal cliff and not kick the can down the road, there's an opportunity for a boost of confidence and an opportunity over the next couple years -- >> you didn't mention anything about the economy side. >> it has to be balanced. we have to see additional cuts in mandatory spending. yes. clear about that. yes. we also need to see new revenue. so we had about $1.5 trillion enacted through the budget control act of 2011. we should do another half trillion on the spending side meaning entitlements and an additional like amount on the revenue side. add those two together -- >> one for one. simpson-bowles is three for one. >> you add interest savings. you have 1 for 1. $4 trillion package. >> does that work for you, ed? >> i think there are two things to remember. first of all, the short run problem fiscal cliff is a tax problem not primarily a spending problem. so in terms of the long-term problem, the long-term problem is not a tax problem. that's a spending problem. we have really two things going on at the same time. i think what we have to remember is that -- i agree w
about the fiscal cliff, greece of combining for a market that pretty much went nowhere today. the dow jones industrials down 42. as into down treatment nasdaq rose ten. the sixth day in a row in which the nasdaq has gained. light trading on the big board. concerns about increases in taxes on dividends for the high-yield dividend stocks of late. today at&t and verizon down, both with dividend yields of just about 5%. most retailers lower on the day despite good news on the holiday shopping weekend. target and walmart among the worst -- losers. investors celebrating what some are insisting on calling cyber monday. in the treasury market, the yield on the treasury's ten year slipping slightly lower to 1% early this evening. the international monetary fund announcing it reached a deal with trees to cut its 124% of gdp by 2020. that is a big deal. with to some 30 but believe who -- with just 35 days you would think that lawmakers will be focused on solving the problems, but grover norquist has become the subject of all of the debate the washington post headline today screaming grover norqu
over the fiscal cliff? you do have more polarization with business community. jamie dimon being the key man? >> certainly one of them. a lot of the business community is more down the middle given the two constituencies you just mentioned. >> we'll talk -- buffett had thoughts on that this morning that we'll get to in a few minutes. the case shiller home price report is out. which cities are making the fastest move to recovery? >>> also ahead, when it comes to the holiday shopping season, it appears men are the new women. we'll explain that argument. take one more look at futures here. we'll see if we get traction later on this morning when the opening bell rings in just about 16 minutes. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. thor gets great
it down to simply what this will entail. when we talk about the fiscal cliff, it is the expiration of legislation that will keep tax rates the way that they are and keep spending levels the way that they are right now. the reason why this is a big deal is because right now, this country is running out tremendous budget deficits. it cannot be sustained over the long term. that is the view from most experts to talk to. the only question is to what degree do you pare back? if you're the head of a family and right now we were planning for your family's future, planning for this week, this month, what you're looking at are two things in your budget -- income and expenses. if you make enough money, you can spend enough money. if you spend more than the make, you have to borrow by putting it on your visa or mastercard. right now, the u.s. is trying to pare that down. you go out and find another job, raising revenue, or you cut spending, like vacations planned in the future, or a combination of both. if the fiscal cliff happens, what you have in essence are tax is going higher, more of you
of the fiscal cliff negotiation may really ride on that point. now at a white house briefing they need to double down on the long held belief households with income above 250,000 dollars must pay a higher rate. they are open to higher taxes but they are pushing the idea of eliminating deductions for high income earners. >> we will continue to wait on the president and hope he has what it takes to bring people together and forge a compromise. if he does we will get there and if he doesn't, we won't. >>> it's that simple. >> president obama is going to meet with the carefully selected group of business leaders to get their input. how the republicans will do the s same. there will be little room for compromise. >> they once again urged the senate to pick up the house passed bill extending the hacks breaks for millionaires and billionaires. as president the senate has considered this bill. we jeekted it on a bipartisan basis. it was load down in this congress. >> republicans are looking for some willingness on the part of the white house to cut spending or maybe tackle big costly entitlement problem
and elsewhere, turned toward the fiscal cliff. the reality is this: if we have a recession in 2013, it is going to hit everybody. unemployment will go up, earnings and net worth will all go down. as people start to realize that, they are going to become more concerned and they are likely to hold back. > it is interesting though, people are going back to basics and paying down their debt, so i guess that's the silver lining in all of this. > > yeah, actually, debt burdens are the lowest that they've been in almost 20 years relative to income; so yes, we have made some substantive progress in that area. > good to have you on the show. that's greg mcbride of have a good day. > > thank you angie. up next, is the shine on or off tiffany & company? chart talk is next. matt shapiro, president of mws capital, joins us now for some chart talk. good morning to you matt. it feels like you have to be nimble in this market and make the correct stock choices. what are you choosing? > > i agree, and obviously i am sticking to my game plan i have talked about on this show for several years here,
knew about this problem with the fiscal cliff since last july/august of 2011, and here we are on the eve of going off the cliff. >> i think part of the problem is -- see, i still disagree with the fundamentals of what people are calling the fiscal cliff. is the fiscal cliff cutting spending? the sequester? i don't think it leads to economic harm to cut spending. that's what we should be doing. the other half of the fiscal cliff is taxes will go up. i don't want them to go up. if you raise taxes on the top 1%, that's 50% of the nation's fiscal income. if you don't think raising taxes in a recession is a good idea, why would it be a good idea to raise them on anyone? >> greta: so do you think going off the fiscal cliff would necessarily be a bad thing? >> it would be a bad thing to raise taxes. it doesn't make sense to me. i don't accept that cutting spending is bad for the economy. i think cutting federal spending, which means less borrowing up here, is go for the economy, but i do think taxes going up is a bad thing for the economy. i agree with half of the equation of the
's an approach to take you off the fiscal cliff. i think what the president is doing, what the speaker are doing what, did they do over the weekend? they talked together over the phone. did you see them sitting down at a table together? you saw them shaking hands. you watch the president -- or you watched the speaker right after the election and say here's revenues. we want to continue tax rates, but you need revenues. republicans are putting revenues on the table. where are the cuts to government to gets us to solve the problem? if you just do the tax rate, you don't solve anything. gout to bring more revenue n but at the same time you got to control the spending of government. that's the best way to solve the problem once and for all. >> greta: what's your position on raising tax rates on the very wealthy? >> i don't think the tax rates solve the problem. >> greta: does that mean a no? >> revenue. we'll give you more revenue by closing loopholes. >> greta: does that mean no the tax rates? >> you want to solve the problem. i'm tired of just saying -- look, if you do the tax rates, that gets you
shares are still down about 30% from the initial public offering back in may. >>> with the fiscal cliff edging closer, the white house took a hard line, insisting they have to rise from affluent americans and many more delays could hurt hol dha roadway tail sales. >> the senate will come to order. >> back from thanksgiving, senators are on the sidelines. >> really we have to make tough decisions. >> the house has the ball. >>> i don't care if you raise taxes 100% on the wealthy. you're not going to fix the deficit prap. >> the republican leader is talking about it. but republicans are open to new rev new because of the new reality. >>> well, the president got reelected and we know at the end f this year taxes are going up on everybody. >> republicans say if the rich do pay more it should come only by reducing their tax deductions. democrats still insist on a rate hike on the rich. >> the president has made clear that he will not sign a bill that extends the bush era tax cuts or those making more than $250,000. >> billionaire warren buffett, an obama ally, again with a rate hike on the r
best look away before we cross the fiscal cliff. >> you don't want to think more than you really do that's when you rally run into trouble. >> reporter: in san francisco, noelle walker, ktvu channel 2 news. >>> a hewellet packered filed a lawsuit over the purchase of autonomy. the investor accused hp of knowingly making misleading statements about the deal and the $13 billion purchase of electronic data systems. hp stock has lost half of its value this year. the lawsuit could become a class action lawsuit involving all hp shareholders. >>> reducing the risk of pregnancy, the call to put emergency contraception into the hands of teenagers before they need it. >>> tracking dense valley fog right now and then we're going to move on to the computer model and track the rain. >>> a memorial to veteran, and what happened just hours aftercrews cleaned it up today. >>> vandals defaced a vietnam war memorial in concord shortly after city workers had cleaned it up. the concord city workers said it saw an online blog about the graffiti and sent a crew to clean it up. >> report it to us, we fou
down. >> reporter: wells capital management shwasburg says best look away before we cross the fiscal cliff. >> you don't want to think more than you really do that's when you rally run into trouble. >> reporter: in san francisco, noelle walker, ktvu channel 2 news. >>> a hewellet packered filed a lawsuit over the purchase of autonomy. the investor accused hp of knowingly making misleading statements about the deal and the $13 billion purchase of electronic data systems. hp stock has lost half of its value this year. the lawsuit could become a class action lawsuit involving all hp shareholders. >>> reducing the risk of pregnancy, the call to put emergency contraception into the hands of teenagers before they need it. >>> tracking dense valley fog right now and then we're going to move on to the computer >>> vandals defaced a vietnam war memorial in concord shortly after city workers had cleaned it up. the concord city workers said it saw an online blog about the graffiti and sent a crew to clean it up. >> report it to us, we found it on a local blog. so staff noticed it. we went out
's market headlines. fiscal cliff years made a comeback and strong retail sales are not enough to offset the concern. the dow closed down 42 points. facebook shares some otherbest in four months. two formerly bearish analysts upgrade their outlook citing increasing revenue from mobile ads. and as our own charlie gasparino first reported, mary schapiro stepping down as chairman of the sec. officially leave office on december 14th. she ran the securities regulator for nearly four years. president obama will appoint current sec commissioner to run the agency. all right. now to our top try. warren buffett support for raising taxes on the rich takes a controversy in its turn in an op-ed in today's new york times. the billionaire investor says let's forget about the rich in culture ridge. income is increased. forever for see investment of the charities. so buffett is on target with this. raising taxes on the rich actually have no affect on their investment behavior. let's bring in scott martin, chief investment strategist and founder and ceo of market 76. thank you for joining me. give me a re
lee. >> you wrote an op-ed. while washington is preoccupied with the so-called fiscal cliff, little attention has been given to the fiscal avalanche that will occur if we continue down an unsustainable long-term path causing markets to turn sour on u.s. debt and leading to a spike in interest rates. you're looking at the very long-term picture. they're just trying to get a little budget deal done here. you're real worried about if they don't do this right now what it means for the longer term. tell us about that avalanche. >> the thing about the cliff is we know exactly when it's coming. you can see a cliff. you can see when you're going to hit it. an avalanche is a little bit different. when the conditions are there, when it might happen. but you have no tiechling as to the exact moment that it's going to occur. and so that's what we need to be worried about. there will come a moment at some point in the next few years when people will no longer buy u.s. treasury instruments. at least not at these unbelievably low rates we have today. once that trend starts to reverse itself we'll
attack. the arraignment was postponed. >> keeping our eyes on wall street with the fiscal cliff coming up at the end of the year weighing on investors. good news there was a rise in consumer confidence as well as home prices. the dow is off 25 down to 12,942. a quick break as the prime news continues until 10:00. a live look from our roof camera and sam francisco. we are watching this fog slowly roll. >> 8:39 a.m. and three republican senators met with the ambassadors susan rice saying they're more trouble now over her explanations over the deadly september 11th raid in libya. price met behind closed doors earlier this morning with senator john mccain and kelly coyote. rit st. she made comments five days after the raid and the comments were made based on intelligence surveillance. she still has to answer questions about that attack. >> video coming out of europe, angry farmers dousing police with thousands of liters of milk. this is in brussels. there exceupset about quotas. farmers across europe are taking a stand against parliament and blocking traffic along brussels busy streets. the
is pulled back. dagen: thank you. if congress is unable to prevent the fiscal cliff, our lawmakers could send the entire world economy into a recession. steve moore is here, senior economics writer at the "wall street journal." he joins us now from washington, d.c. will they prevent it, steve? >> the good news is, no one should ever listen to what they say. but, you know, these go sheesh and keep rolling on. my sources on capitol hill say that there is still a lot of gridlock there. the main thing, in my opinion, can they reach a deal on these taxes that does not require all of the requirements of business to go up? dagen: do think that happened, because again, there are so many taxes that we need to worry about, the lawmakers never fixed it for 2012. if they do not fix that, it will hit 33 million americans. the payroll tax cut. will that go away, because, again, it was temporary ones, temporary twice and it will still be a higher tax. >> im so glad you brought up the amt. nobody has really been focusing on this. that would be bigger than even extending the bush tax cuts. you are talkin
be a preview of coming attractions in america. >> anybody that thinks there will be a fiscal cliff deal in the united states to dot all "i"s, cross all "t"s and magically we are precision issues like entitlement reform and revision of the tax code, of course are dreaming. >> this analyst says what is going on in europe right now is the main issue in the global economy. even overshadowing the fiscal cliff. the markets today did not get a huge boost from the greek deal because they expected that it would happen. but they would have take an real hit had it not. bret? >> bret: amy kellogg in london. thank you. black friday shoppers got plenty of bang for the buck. that is later in the grapevine. up next, republicans try to zero in on hispanic voters. why is it that the most impressive technology often comes with a set of equally impressive instructions ? shouldn't something that's truly advanced, not need much explanation at all ? with the nokia lumia 822 on verizon, there's not much to learn because it's powered by windows... to let you do more than you ever imagined on your smartphone. ex
questioning their pledge and saying it may stand in the way of getting a fiscal cliff deal done. that's one side of the equation. in exchange, those republicans say, look, we'll back down. but not if we don't get something for it. we want some entitlement reform. here are the big three entitlements -- social security, medicaid, and medicare, combined they make up 43% of federal spending last year. joining me is john avalon, cnn contributor, senior political columnist for "newsweek" and "the daily beast. "and all around very smart person. you have a column out about this. it's great reading. a lot of math in it. tons of math. >> i was told there would be no math, but there's math. >> a chevy chase line that bears repeating. math means two sides of the equation. >> math is not partisan. >> math is not partisan. there's coverage about republicans and what they're willing to do to give up their pledge to raise revenue. and there's not seemingly as much talk about what the democrats need to do. how much do democrats need to give up in the spending column and what do they need to give up in the s
the dangers of going over the fiscal cliff and what that means for our economy, that there's too much stubbornness in congress, that we can't even agree on giving middle-class families a tax cut, then middle-class families are all going to end up having a big tax hike. that's going to be a pretty rude shock for them, and i suspect will have a big impact on the holiday shopping season, which in turn will have an impact on business planning and hiring, and we can go back into a recession. >> sean: republicans hate big beared and santa claus. don't buy this hype, such as letting the bush cuts expire, are not the answer to tackling this deficit. in fact, during the 2012 fiscal year the federal government cost $9.7 billion to run each and every day, but the additional revenue from letting the bush tax cuts expire only amounts to around $82 billion a year, meaning the government would be funded for a whopping 8.5 days if in fact the president wins this fight. sadly the real reason we've reached this point is because our elected representatives simply have no idea how to stop spending your m
to an agreement rather than easier. >> dan, part of the whole thing here and calling it a fiscal cliff is to add to the theatricality and the chael leng of the whole thing. it's a slope. everybody calm down. we don't need this brinksmanship which adds to the republicans' leverage in this situation. you, sir, are writing a column a day about this. i know you're satiracal in your column. are you feeding the beast of the whole cliff thing, or are you completely trying to take it apart? >> i'm feeding "the daily beast." >> well-played, sir. >> people forget that "nightline" started because of covering the iranian hostage situation. maybe i can get a nighttime show on this. this is kind of serious not just in the sense of the economic impact, but this is a real significant, potential change in policy. we did a lot of things over the last ten years with our taxes and spending. we cut taxes on capital gains and dividends and put medicare precipitation drugs in without a financing mechanism. we did all sorts of stuff that distorted or budget processes, the way we spend money and collect money. this is a
to the streets. >>> lawmakers back to work in the u.s. priority number one, avoiding the fiscal cliff. the left and right are talking compromise. and the u.s. ambassador to the u.n., susan rice, headed to capitol hill to meet with her most outspoken critics, answer questions about what happened in benghazi. let's go "outfront." >>> good evening. "outfront" tonight, egypt on edge. is a new dictatorship on the horizon? tonight, president morsi clarified, but really largely stood by his decision to grant himself sweeping powers. including freedom from judicial review for what he's calling presidential decisions. the announcement was made today after morsi met with members of egypt's judicial body, which has been very critical of his position and u.s. officials who were praising the new leader for his role in negotiating a cease fire between israel and hamas, well now when he took all these powers away from judges, they're in a tough spot. >> have some concerns about the decisions and declarations announced on november 22nd. democracy depends on strong institutions and the important checks and bala
over a fiscal cliff with a tax hike for everyone on new year's day and spending cuts on federal programs. today some republicans are defying party politics and break ago pledge they made in the name of a sluchlingts jonathan karl explains article of republican faith for decade. no tax increases of any kind, period. behind it all. this man. november quist. considered one of the most powerful men in washington. sentences he worked for ronald reagan in the 1980's he's gotten virtually every elected republican to sign a pledge promising no tax increases. >> taxpayer friendly congress. >>reporter: sign to it help electricityed don't violent it for fear of getting hammered for breaking the word. >> how many of these things have been signed. >> thousands over the years. >>reporter: he keeps them on file. n boehner pledge signed 20 years ago. >> nobody signed this 10 years ago, 18 years ago 20 years ago are they still bound by it. >> no. >>reporter: when you got married did your wife make a promise when you borrowed money to bite house. that mortgage that was 10 years ago. you
president-elect and for president obama. he's juggling the fiscal cliff but you have to walk and chew gum at the same time at the white house. >> you have to walk and chew gum where lives are lost almost every day with this drug war that is ongoing in mexico and spilling into as we know parts of texas and other border states. >> exactly. the question is, how do you broaden out the relationship? what is the ways in which the united states' economy and u.s. businesses deepen ties with mexico in ways that help both countries? it's not that long ago, tamron, when presidential candidate obama was criticizing the nafta trade deal, so was hillary clinton in that democratic primary. now that trade deal was never renegotiated, which is something that was raised during the primary campaign. how do you now move to deepen ties in ways that doesn't provoke a backlash here in the united states? it's a significant challenge. >> all right, john. thank you very much. great pleasure having you on. up next, investigators exhume i can't sayer arafat's body eight years after his death over suspicions he was p
risen. still, the lingering concern about the fiscal cliff, not helping right now. the markets are coming back a little bit the dow is down 15. nasdaq is up 2. s&p flat. cyber monday was more successful than originally forecast. experts expected sales to be up 20%. with you this morning -- but this morning, ibm's benchmark said they were up almost 28%. this is significant for california, since this is the first cyber monday where the state can collect sales tax from those purchases made in the state. >>> nintendo said they sold more than 400,000 consoles in the first week it was available. the company said that's every console in stores. executives cannot say how many more consuls will be available between now and christmas. >>> this week, president obama begins a full-scale push to win support for his plan to avoid the so-called fiscal cliff. alison burns is live in our newsroom to tell us about the president's schedule and if a deal is closer. >> reporter: dave, president obama is hosting small business owners at the white house today to make the case for extending tax cuts f
and harry reid over the weekend about avoiding the fiscal cliff. the president will meet with small business owners today. tomorrow he meets with middle class americans who would be affected by tax hikes and more business leaders. friday he's going to travel to hatfield pennsylvania where he will give campaign style remarks to get support for congress to negotiate the right kind of deal. we are back with more steph after this. ♪ [ ♪ theme ♪ ] >> announcer: ladies and gentlemen, it's the "stephanie miller show." ♪ >> yahoo, it is the "stephanie miller show," welcome to it. 1-800-steph-1-2 toll free from everywhere. steven weber. he will be there nobody panic he will be right there. charlie pierce said some good stuff about the fiscal cliff and other things. this is going to be a fascinating discussion. the president playing three dimensional chess. told you so. >> never mind. >> never mind. >> corn? when did we book corn? [ laughter ] >> oh, you kids. i swear. all right, you know what? i think there's a little estrogen in the clubhouse. ♪ ♪ >> hi, jackie schechner. >> good morning
of the key players in the fiscal cliff negotiations right here on "now" when senator patty murray joins us tomorrow at noon eastern. >>> and coming up after their romney nominee received just over a quarter of the latino vote republicans say they're ready to put up when it comes to comprehensive immigration reform. what are they doing about it? so far putting up a lot of window dressing. the display when telemundo's jose diaz-balart joins us ahead. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-
changes to entitlement programs. >> at afternoon, everyone. as we head into the fiscal cliff negotiations, my advice to the president with eocene friends on the other side have difficulty turning off the campaign. we need to sit down and work this matter out. i think we have a clear sense there is an opportunity at the end of the year to do something important for the country. we all know that the most critical steps to be taken are to save the entitlements, which are on an unsustainable path to bankruptcy. there's no better time to begin to fix that problem right now. so i would hope our friends on the other side can turn off the campaign and get into a cooperative mode here. which leads me to make further up reservation that the majority leader to create an extraordinary controversy right here when we are to be in bipartisan cooperation by threatening to employ the nuclear option, which is of course to break the rules in order to change the rules of the senate. i hope cooler heads will prevail as they move through the process. the election was november the sixth. we won't have another o
: is it fiscal cliff impasse, president obama won't shift on higher tax rates, is that it? >> it could have a decent amount to do with it. like you said, everything else came out good today. why in the last two days are we seeing not a big sell off but we are selling off a little bit, about 100 points in the dow over the last two days and could be a bit more as we get into this afternoon. stuart: can i say clearly you don't know why the dow is down 50 points? is that right? >> i know there's more selling than buying today. that's for sure. that's what i play on. sometimes the news doesn't necessarily tell us what's going to happen, unfortunately, stuart. stuart: we all want to come up with a reason of the day. there ant always a reason of the day -- there isn't always a reason of the day. >> not always. stuart: you are an honest, larry, thank you very much. >> thanks, stuart. stuart: on-line sales up 30% yesterday compared to the same day a year ago. joining us now is the owner of better qualified. that is a credit repair company. paul, elcome to the program. >> thanks for having me. stuar
in on the president's strategy later this week taking his message, views on the fiscal cliff directly to votes having a campaign-style event. also related to that together with the house republicans now saying they are going to go out and have their own small business events, a sign that direct talks have stalled. i know you said you're optimistic. >> i don't think they have stalled. i think there are -- we are playing ping-pong up here and rolling bowling balls under the table. different things, different levels of activity here. what i think is happening here, the real talks are under way between the speaker's staff and the president's staff to see what we can come to an agreement on. in the meantime, i think what the president's trying to dramatize what the polls already show us. that 60% of the voters, far more than voted for him, agree with the premise that the wealthy should pay more in taxes. that 70% believe that taxes should be part of this whole solution. now, i know we have heard it, we could give one another speeches at this time, what we'll hear from the other side on small business. we'
over the fiscal cliff wouldn't be such a bad thing maybe for the short run. what do you think? >> i think woe be a huge mistake for the country. nothing else what happens with military sequestration. we have challenges with national security. we live in uncertain world where you can't allow that to occur. one thing i have to point out you can't raise taxes enough to prevent what is about to happen here and stop the deficits from moving forward. i think that is the one thing that has to be understood by democrats, you can't do this through increasing taxes. there has to be serious spending cuts put on the table. when you take those off the table before we get started it puts the process in jeopardy. jon: good discussion, chris wilson, simon rosenberg, thank you both. >> sure. jenna: for a fox extreme weather alert, a fast moving system bringing wintry weather as you see outside of our studio in new york city across the big section of the country today. there is rain, and snow already falling on the east coast. some places they say could get up to four inches of snow. that could reall
. >> okay. we can do that. we'll give it a try. hopefully we don't have to say it. fiscal cliff, okay, dollar for you, there you go. thank you, richard. in days he's officially going to become the new president of mexico but first a sit-down with president obama. challenges that are facing two neighbors from immigration to the drug trade. [ male announcer ] are you considering a new medicare plan? then you may be looking for help in choosing the right plan for your needs. so don't wait. call now. whatever your health coverage needs, unitedhealthcare can help you find the right plan. open enrollment to choose your medicare coverage begins october 15th and ends december 7th. so now is the best time to review your options and enroll in a plan. medicare has two main parts, parts a and b, to help cover a lot of your expenses, like hospital care... and doctor visits. but they still won't cover all of your costs. now's the time to learn about unitedhealthcare plans that may be right for you. are you looking for something nice and easy? like a single plan that combines medicare parts a & b wi
and criticized leader reid's plan. this is 15 minutes. >> good afternoon, everyone. as we head into the fiscal cliff negotiations, my advice to the president would be -- seems like our friends on the other side are having difficulty turning off the campaign. we need to sit down and work this matter out. i think we have a clear sense and opportunity here at the end of the year to do something important for the country. we all know that the most critical steps to be taken are to save the entitlements, which are on an unsustainable path to bankruptcy. there's no better time to begin to fix that problem than right now. so i would hope our friends on the other side can kind of turn off the campaign and get into a cooperative mode here to reach a conclusion. which leads me to make a further observation about how unfortunate it is that the majority leader has chosen to create an extraordinary controversy here in the senate right here at a time when we ought to be encouraging maximum bipartisan cooperation, about threatening to employ the nuclear option, which is to break the rules in order to change
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